Insider Selling: Spyre Therapeutics (NASDAQ:SYRE) CFO Sells $654,825.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $87.31, for a total transaction of $654,825.00. Following the transaction, the chief financial officer directly owned 97,994 shares in the company, valued at $8,555,856.14. This trade represents a 7.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Spyre Therapeutics Stock Performance

Shares of SYRE opened at $88.98 on Friday. The company has a 50 day moving average price of $98.05 and a 200-day moving average price of $74.63. Spyre Therapeutics, Inc. has a fifty-two week low of $14.51 and a fifty-two week high of $110.18. The stock has a market capitalization of $7.82 billion, a PE ratio of -45.63 and a beta of 2.99.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.40. Equities research analysts forecast that Spyre Therapeutics, Inc. will post -2.62 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wedbush reduced their price target on Spyre Therapeutics from $130.00 to $123.00 and set an “outperform” rating for the company in a research report on Wednesday, August 26th. Mizuho raised their price objective on Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Wall Street Zen downgraded shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. Wells Fargo & Company boosted their target price on shares of Spyre Therapeutics from $90.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating for the company in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.69.

Institutional Trading of Spyre Therapeutics

Large investors have recently made changes to their positions in the business. Allianz Asset Management GmbH acquired a new stake in shares of Spyre Therapeutics in the second quarter worth $1,252,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Spyre Therapeutics during the second quarter valued at $999,000. California State Teachers Retirement System boosted its holdings in Spyre Therapeutics by 9,594.0% in the second quarter. California State Teachers Retirement System now owns 5,742,912 shares of the company’s stock valued at $509,856,000 after purchasing an additional 5,683,670 shares during the last quarter. Nykredit A S acquired a new stake in Spyre Therapeutics during the 2nd quarter worth about $173,000. Finally, Bank of New York Mellon Corp acquired a new stake in Spyre Therapeutics during the 2nd quarter worth about $21,768,000. 80.39% of the stock is owned by hedge funds and other institutional investors.

Key Spyre Therapeutics News

Here are the key news stories impacting Spyre Therapeutics this week:

• Positive Sentiment: Management will participate in the Citi BioPharma Back to School Conference on September 9, the Wells Fargo Healthcare Conference on September 10, and the Stifel Immunology and Inflammation Forum on September 23. These events could provide updates on Spyre’s clinical programs, development strategy, and potential catalysts. Spyre Therapeutics to Participate in Upcoming September Investor Conferences
• Positive Sentiment: Spyre’s independent compensation committee approved stock options covering 2,106 shares and 745 restricted stock units for a new non-executive employee. The awards were intended to secure the employee’s acceptance and may support the company’s ability to recruit talent, although the equity issuance has a modest dilution effect. Spyre Therapeutics Announces Grants of Inducement Awards
• Neutral Sentiment: Spyre’s latest quarterly loss of $0.36 per share was better than the expected $0.76 loss. However, the company remains unprofitable, with analysts forecasting a full-year loss of approximately $2.62 per share. The earnings beat alone has not provided a lasting catalyst.
• Negative Sentiment: Several insiders reported sales totaling roughly 69,000 shares. CEO Cameron Turtle sold 15,000 shares, CFO Scott Burrows sold 25,732 shares, and Heidy King-Jones sold 28,399 shares. The transactions were made under pre-arranged Rule 10b5-1 plans; Burrows said his sales covered tax withholding obligations. Even so, the volume of selling—particularly King-Jones’s substantial reduction in ownership—could weigh on investor sentiment. Spyre Therapeutics Insider Trading
• Negative Sentiment: A Zacks report noted that SYRE had declined 16.6% since its latest earnings release, suggesting investors remain focused on the need for clinical progress and additional company-specific catalysts. Spyre Therapeutics Down 16.6% Since Last Earnings Report

Spyre Therapeutics Company Profile

Spyre Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of novel immunotherapies for cancer. The company leverages proprietary protein engineering and biologics design platforms to create targeted molecules intended to enhance anti-tumor immune responses and inhibit tumor growth. Its preclinical pipeline comprises multiple candidate therapies for solid tumor and hematologic oncology indications.

Established by a team with deep expertise in protein design, immunology and translational research, Spyre Therapeutics collaborates with leading academic institutions and research organizations to accelerate its discovery efforts.